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All in a days work - the threat of withholding progress payments, typical of any new aircraft program.
Over 600 Mil is a lot of cash - Lockheed will pull it out
Looks like they are already trying. I understand that they are going to maintain the production rate even if the US reduce the number purchased to keep the unit costs down and encourage exports.
Financially its a gutsy move.
Well, at least the RAAF has F-18s, we only have prop-driven OV-10s and still use the old yet reliable UH-1. No advance weapons or anything. The last jet we used was the F-5 Freedom Fighter.
-Arlo
600 mil?! Damn, that is pretty expensive.
Well, at least the RAAF has F-18s, we only have prop-driven OV-10s and still use the old yet reliable UH-1. No advance weapons or anything. The last jet we used was the F-5 Freedom Fighter.
-Arlo
Yeah, that's a real gutsy move. Saying that you'll be giving away airplanes because you'll be spittin'em out faster than customers can take'em, when you can't even get half the planes you have built out of the hanger and off the ground.
And speaking of finances, here's what those who haven't swallowed the Lockmart kool-aid think about that:
StreetInsider.com - Goldman Sachs Added Lockheed Martin (LMT) to its Conviction Sell List
JL
Gates also said that he thought the program was now on solid ground. "I would say there are no insurmountable problems, technological or otherwise, with the F-35," he said. "We are in a position to move forward with this program in a realistic way."
Yeah, that's a real gutsy move. Saying that you'll be giving away airplanes because you'll be spittin'em out faster than customers can take'em, when you can't even get half the planes you have built out of the hanger and off the ground.
And speaking of finances, here's what those who haven't swallowed the Lockmart kool-aid think about that:
StreetInsider.com - Goldman Sachs Added Lockheed Martin (LMT) to its Conviction Sell List
JL
we have already invested moree than 5 billion into the development work
It is - but it's not for a specific program like the F-35. Program managers are responsible to ensure that progress payments based on performance arrive on time. I work on a DoD contract that awards and extra year on the contract based on the performance of the previous year. Be rest assured that if we were not awarded an add-on year based on poor performance from the previous year, myself along with my boss and the two other managers who run our contract would be terminated immediately.$600m is pretty small cash for the Defence Industry....
You should get some F-16s, they still make them and they are fairly cheap (as these things go).